Michael Bloomberg, the billionaire media mogul and former New York mayor, is preparing to join the 2020 Democratic presidential primary, The New York Times first reported on Thursday.
This comes eight months after the politically moderate former Republican announced he wouldn’t run for president in 2020.
Bloomberg’s campaign will likely be hampered by his status as a self-funding billionaire, allegations that he’s made sexist remarks, and an increasingly progressive Democratic voter base.
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Michael Bloomberg, the billionaire media mogul and former New York mayor, is preparing to join the 2020 Democratic presidential primary, The New York Times reported Thursday.
This comes eight months after the politically moderate former Republican announced he would forgo a run for president in 2020.
Bloomberg wrote in a March 2019 op-ed that he’d rather spend the next 18 months working on issues like climate change and gun control than spend his time and money on a primary bid he said would be challenging.
“I’ve come to realize that I’m less interested in talking than doing,” he wrote. “And I have concluded that, for now, the best way for me to help our country is by rolling up my sleeves and continuing to get work done.”
Many Democrats believe Bloomberg’s virtually unlimited campaign cash, loyal staffers, and philanthropic record would make him a formidable presidential candidate.
Rebecca Katz, a progressive strategist and former aide to Mayor Bill de Blasio, told Insider in February that Bloomberg could outspend much of the Democratic primary field, running a self-funded ad-based campaign.
“Especially when you see the kind of money that Bernie is raising, who knows in a year who’s going to be able to compete with that,” Katz said, referring to the stunning $6 million in small-dollar donations Sen. Bernie Sanders raked in the first 24 hours after he announced his 2020 bid.
But Bloomberg may have recognized that his centrist policy positions on key issues like criminal justice and financial regulation, allegations of sexist remarks and a #MeToo blind spot, and his status as a self-funding billionaire could narrow his path to the nomination. And being a 77-year-old wealthy white man won’t help differentiate himself from a group of fellow white septuagenarians leading the 2020 pack.
“For too long the people at the top of the Democratic Party have been wealthier, whiter, more male, and more conservative than the base of the Democratic Party which looks a lot more like [Rep.] Alexandria Ocasio-Cortez,” Waleed Shahid, communications director for Justice Democrats, told Insider earlier this year.
Even without running for president, Bloomberg would have had a presence in the 2020 election. He and his well-staffed political team were reportedly ready to spend at least $500 million to support the Democratic nominee.
#MeToo and allegations of sexual harassment at Bloomberg LP
Bloomberg has batted away numerous allegations of a toxic misogynist culture at Bloomberg LP, which included sexist remarks allegedly made by Bloomberg and sexual assault allegations made against a top executive. But that history may well …read more
Source:: Business Insider – Politics